Building Details

Building Size 45,118 SF

Year Built 2000

Listing Agency: NVCG

Listed By: Jack Brower, CCIM · License #NV #BS.41614.LLC Show Phone

Source: Nvcg

Added: Jun 24 Changed: Oct 4 Last Checked: Oct 23 at 5:35AM

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Investment Insights

Based on property information with market context.

Two anchor tenant buildings are available for sale within Northtowne Plaza shopping center, totaling 45,118 square feet. The properties are currently occupied under NNN leases with corporate guarantees.

The offering includes two quality tenants with scheduled increases in rent. A new roof was installed in 2025 with a 20-year warranty.

Presented as NNN assets with corporate-backed leases, the buildings offer an income-oriented structure inside a larger retail shopping center in Reno, Nevada.

Key Highlights

• Two anchor tenant buildings totaling 45,118 SF within Northtowne Plaza
• Occupied by NNN leases with corporate guarantees
• Year built: 2000

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$570,931

Cap Rate

5.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,418,620 $11.4M

Cap Rate 7%

$8,156,157 $8.2M

Cap Rate 9%

$6,343,678 $6.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 45,118 SF

Gross rent

$893.3K $19.80/SF

− Vacancy

−$77.7K −$1.72/SF

EGI

$815.6K $18.08/SF

− OpEx

−$244.7K −$5.42/SF

NOI

$570.9K $12.65/SF

Area

Reno, NV

Vacancy

8.70%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,418,620

Cap Rate 7%

$8,156,157

Cap Rate 9%

$6,343,678

Alternative Uses

Best Use

Retail

$8.16M

$7.14M – $9.52M (±1% cap)

NOI $570,931 @ 7.0% cap · market cap 5.72%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$13.90M

$12.17M – $16.22M (±1% cap)

NOI $973,336 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Petco (Bike/Boat/Book/etc) Store fi.d.o (Bike/Boat/Book/etc) Store Petco Dog Training Animal Training Petco Vaccination Clinic Veterinary Clinic Petco Grooming Pet Grooming Service

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

469

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 89512, NV

30,148

Population

12,374

Households

2.4

Avg Household Size

30

Median Age

18%

College-Educated

76%

High-School Grad

6.2 sq mi

ZIP Area

4,863

Density / Sq Mi

$45,284

Median Household Income

$34,587

Median Earnings

$1,113

Median Rent

$318,400

Median Home Value

Market

Vacancy Rate% for Retail in Reno, NV

6.9% 2019

6.5% 2020

6% 2021

5.5% 2022

5.3% 2023

4.5% 2024

4.7% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Shopping center - Two occupied anchor buildings within Northtowne Plaza are available with NNN leases and scheduled rent increases.

Where is this shopping center located?

The property is located at 2970 & 2990 Northtowne Lane Reno, NV.

What is the asking price?

The asking price for this property is $9,975,000.

What are key features of this property?

This property features: Two anchor tenant buildings totaling 45,118 SF within Northtowne Plaza; Occupied by NNN leases with corporate guarantees; Year built: 2000